• Journal of Technology Innovation
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• v.23 no.3
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• pp.373-396
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• 2015

This study analyzed the determinants of high-growth firms using the technology appraisal data of the Korea Technology Finance Corporation. This study is differentiated from previous studies for three reasons. First, it analyzed the determinants of firms that will grow into high-growth firms in the future, not the characteristics of current high-growth firms. Second, it analyzed high-growth firms by dividing them in two aspects: sales and employment. In other words, they were divided into three types: the case in which a firm achieves high growth in both sales increase and creation of jobs, the case in which a firm achieves high growth in creation of jobs but low growth in sales increase, and the case in which a firm achieves high growth in only sales increase but low growth in creation of jobs. Third, this study applied the technology appraisal indicators of Kibo Technology Rating System(KTRS) by the Korea Technology Finance Corporation as the explanatory variable. As a result of analysis, it was found that a firm achieved high growth in both sales and employment if the position in the technology life cycle was appropriate and the technology readiness level was high. However, it turned out that the management system of technical manpower had conflicting effects on high growth of employment and sales. In other words, a firm that had well managed its technical manpower achieved high growth in terms of employment, but rather showed low growth in terms of sales. This result suggests the inference that firms showing high growth in employment may appear mainly in the high-tech industry where management of technical manpower is important. Accordingly, as a result of adding dummy variables that represent whether or not firms are in the high-tech industry, it was found that the result supported the inference, as firms in the high-tech industry were highly likely to achieve high growth in employment.

• Journal of the Korea Safety Management & Science
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• v.15 no.4
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• pp.407-416
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• 2013

This paper proposes an approach to analyzing the relationship between technology and services, and to identifying promising service areas for technology-based firms with the analysis of business model (BM) patents. First, BM patents and technology patents are collected and classified into their relevant categories, respectively. Second, patent citation analysis is conducted to analyze the linkage and impacts between each technology and service field at macro level. Third, as a micro level analysis, patent co-classification analysis is employed to identify the interrelationships among specific technology and service areas. Finally, the promising service areas for technology-based firms seeking service areas for diversification is investigated with portfolio analysis. The working of the proposed approach is provided with the help of a case study of IT and mobile services. The proposed approach could guide and help managers of technology-based firms to discover the opportunity of the diversification to new areas in emerging service fields.

• Journal of Technology Innovation
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• v.25 no.3
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• pp.197-231
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• 2017

We investigate the effect of technology convergence and spillover on firm performance. In doing so we specifically examine how automobile firms adapting aircraft technologies perform in stock market and product market. In order to use technology convergence and spillover, we investigate the patent citation relationship between aircraft and automobile related patents and construct the measures on automobile firms' adaptation of aircraft technologies. We also measure automobile firms' performance based on market value of firms in the stock market and revenues in product market. We find that the market value increases as automobile firms use the knowledge of aircraft technologies more. However, there is no relationship between the use of the aircraft technology and the revenue of automobile firms. This suggests that the use of advance aircraft technology plays a positive signaling role in financial market while it is not associated with generating revenues in product market.

• Journal of Information Technology Services
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• v.8 no.2
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• pp.71-87
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• 2009

In this paper, the technology innovation for software firms are discussed. Through the literature study, the concepts about this issue and the environment and activity of software firm's the technology innovation related are described. The survey paper was developed for searching the obstacles, policy considerations, and performance of this issue etc. Also questionnaire sheet was made for identifying the relations on technology innovation activities and performance. The degree of understanding about the need of technology innovation were very high according to the analysis result from the response based on the 103 software firms. Among this survey the other results are described as follows; the motivation of technology innovation, the necessity and implementation, the duration acquired for innovation result, the favorite support program as for innovation policy, obstacles for innovation implementation, the reason for innovation collaboration etc. Finally, it is verified statistically that the performance of technology innovation be affected by the employment of external professional technician, research and development, the technical education.

• Knowledge Management Research
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• v.6 no.1
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• pp.19-32
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• 2005

The reliability of technology valuation depends on, among other things, the reliability of the discount rate estimate. The weighted average cost of capital, generally accepted as discount rate, consists of cost of equity and cost of debt. The model used to estimate the cost of equity for publicly traded firms can not be used directly for small-sized venture firms. In addition, the estimation of cost of debt become very difficult, given the limited and volatile price history, because these small-sized venture firms do not have associated credit ratings. Since two kinds of cost of capital for the small-sized venture firms can not be estimated directly from market data, this study suggests statistical frame works for estimating unknown two kinds of cost of capital. The estimates of underlying cost of capital will help determine the size of appropriate discount rate with logical and scientific way when the technology valuation for small-sized venture firms is made. This study also suggests the necessity of the risk premium for the technology competitiveness to improve the estimation of the appropriate discount rate for small-sized venture firms.

• Journal of the Korea Safety Management & Science
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• v.10 no.4
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• pp.327-336
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• 2008

Recently, technology growth and globalization of the market bring the age of knowledge based economy. These competitive environment require that the firms should cooperate among industry, academia, and institute. Cooperation between firms and universities for research and development is one of the most important business strategy in improving their business competences. This paper studied the factors of the firm involvement in the cooperation between firms and universities for technology development. To analyze the involvement factors, the data of 'R&D activity survey' of Ministry of Science and Technology(MOST) were used. Based on results of the analysis, 6 factors such as firm size, the years of firms, ratio of the researchers, the ratio of collaborative investments, the ratio of new product development, and the number of property right were significant. As the technology cooperation get flourished, the results of this research is expected to play a meaningful role as an basic data for developing the cooperation between industry and academia policy for technology development.

• Journal of Technology Innovation
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• v.11 no.2
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• pp.27-39
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• 2003

This study empirically examines the relationship between technology licensing and licetnsee firms' profitability. A significant positive effect of licensing on profitability is generally demonstrated in both the short run and the long run. Further, the magnitude of positive effect is bigger in the long run than that in the short run. The paper suggest that, for firms, aggressive management strategy of collaborating with technology holders through licensing agreements is beneficial. It also argues that transferred technology requires time to be implemented, modified and mastered better by companies.

• Journal of Information Technology Applications and Management
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• v.22 no.4
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• pp.77-94
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• 2015

This research aims to develope a maturity evaluation model on the technology management competence (MEMTMC) and to investigate the relationship between technology management competencies and maturity evaluation level in Korean firms. After research framework building through literature review and field study focusing on interview process, a maturity evaluation model was suggested, including technology management competency factors such as vision and strategy, leadership, resources, projects, performance management, and systematic procedures. Through the empirical study on the 111 Korean firms, the MEMTMC model was tested and some hypotheses were examined. As a result of the research, we found that the MEMTMC is significant statistically to evaluate the technology management competencies of firms from a practical point of view. Additionally, these findings suggest that firms can build up their technology management competencies, including the vision and strategy, leadership, resources, projects, performance management, and systematic procedures in order to raise their maturity level of technology management competencies. But this research has some limitations such as this MEMTMC has not considered separately the variety of industry, not enough survey respondents and 5 level group firms etc.

• Journal of Korea Trade
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• v.25 no.4
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• pp.128-145
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• 2021

Purpose - The main purpose of this study is thus to investigate the contingent effect of imitation strategies on firm performance in transition economies such as China, focusing on pure and creative imitation. Design/methodology - We conducted a survey targeting department heads of each company who have more than 10 years work experiences. We assessed that the ability to gain trust and to access information from high-ranking informants would be greater if the firms were from the same country - Korea - as the lead researcher. A total of 200 highly reliable samples were obtained, which could effectively explain the nine variables set in the study. Relevant hypotheses were tested using a hierarchical linear model (HLM). Findings - The findings suggest that SMEs' technology level also had a positive impact on performance. Firms with better technology had a positive impact on performance, irrespective of pure or creative imitation. This reflects the cases where many Korean SMEs entering China without high technology level lose their competitiveness due to Chinese firms' technology catch-up within a short period of time. Originality/value - SMEs that lack technology and know-how need to focus on pure imitation strategies. It is possible that SMEs can perform creative imitation, but it seems difficult under the current circumstances. Therefore, SMEs with limitations in technology and know-how should maintain their competitive advantage for a while, by maintaining their pure imitation strategy.

• Proceedings of the Korea Society for Industrial Systems Conference
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• 2001.05a
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• pp.99-113
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• 2001

Small firms think that it is for the best to use information technology to survive and grow in current business environment. Recently, the importance of using information technology to be a high and competitive company in the world has been recognized by small firms facing difficult business situations. To roll with the punches of recent crisis and meet customers'specifications, much attention is being aimed to using information technology. Many studies have shown that using information technology is a key to competitiveness. But small firms have trouble using information technology and building a very excellent and efficient computerization by many factors such as funds, technology, and human resource. So, this study is focusing on where the difficulties of local small firms getting under way of using information technology come from and finding out the relationship of using information technology characteristics, difficulties, and performance.